Since 1917, individual taxpayers have been able to deduct gifts to charitable and other tax-exempt organizations.
The success of Goodwills' mission-related services relies heavily upon the voluntary donations made by the public. Eighty-four percent of Goodwill revenue is reinvested into programs and services to serve disadvantaged populations in communities across the country.
Nearly 100 years later, Goodwill is being asked to do more with even less support. As the government continues to decrease social services, charities are called upon increasingly to fill the gap in services to the disabled and disadvantaged with donations from the public.
Goodwill urges Congress to support legislation akin to the IRA Charitable Rollover provision of the Pension Protection Action of 2006. This Act was signed into law in 2006, but the IRA Charitable Rollover provision expired December 31, 2007.
Specifically, Goodwill supports legislation that would:
* Extend the law that allows people age 70 1/2 and older to make a charitable donation from Individual Retirement Accounts or Roth IRAs without having to count the distributions as taxable income
* Remove the current $100,00 annual limit on donations from an IRA or Roth IRA
* Allow all charities to be eligible to receive donations
* Provide IRA owners with a planned giving option starting at age 59 1/2
Read more about how to donate to Goodwill.
